Euro (€)

The euro was created to encompass the geographic areas that were once the purview of the mighty German Deutschemark, French franc, etc. The transition to the euro went more smoothly than most expected. And as confidence in the euro has grown, its value has increased against most major currencies. The euro is getting even more prominence given the U.S. dollar’s decline, especially since August. Analysts are suggesting that big dollar holders such as the oil rich countries and China might diversify their currency holdings out of the dollar and into the euro.